Interpretation and Application of IPSAS.

Intro -- Interpretation and Application of IPSAS -- Contents -- Foreword -- Acknowledgements -- About the Authors -- Caroline Aggestam Pontoppidan -- Isabelle Andernack -- List of IPSAS with Corresponding IFRS -- Full listing of all IPSAS and IFRS "equivalent" as at 2 March 2015 -- List of IPSAS with Brief Description -- Disclaimer -- Part 1 Introducing Public Sector Accounting -- 1 Introduction -- Aim of the Book -- IPSAS and Public Sector Entities -- Structure of the Book -- 2 Why Converge Public Sector Accounting Practices? -- Transparency -- Accountability -- Why is there an Interest in Global Convergence of Public Sector Accounting? -- Conclusion -- 3 The IPSASB -- A Review of Events that have Shaped Todays IPSASB -- The Establishment of the Public Sector Committee (PSC) of IFAC -- Advancing the Work of the PSC (1990s) -- The PSC Becomes the IPSASB -- Current Objectives, Structure, and Members of the IPSASB -- Relationship between the IASB and the IPSASB -- Oversight and Governance of the IPSASB -- An Overview of the Responses Received -- Key Issue Raised in the Responses: Funding -- Final Outcome of the Governance Review -- IPSASB Work in Process -- New Pronouncements -- IPSAS 33, First-time Adoption of Accrual Basis IPSAS -- New IPSAS -- Work-in-progress -- Conclusion -- Part 2 Accrual-based IPSAS -- 4 The IPSASB Conceptual Framework and Key Accrual Accounting Concepts -- Principles-based Accrual Accounting -- Background and Purpose of the IPSASB Conceptual Framework -- The Content of the Conceptual Framework -- Preface -- Chapter 1. Role and Authority of the Conceptual Framework -- Chapter 2. Objectives and Users of General Purpose Financial Reporting -- Chapter 3. Qualitative Characteristics -- Chapter 4. Reporting Entity -- Chapter 5. Elements in Financial Statements -- Chapter 6: Recognition in Financial Statements.

Chapter 7: Measurement of Assets and Liabilities in Financial Statements -- Chapter 8: Presentation of Information in General Purpose Financial Statements -- 5 Financial Statements -- Presentation of Financial Statements -- Fair Presentation -- Going Concern -- Materiality and Aggregation -- Offsetting7 -- Comparative Information -- Structure, Frequency, and Content of Financial Statements -- Statement of Financial Position -- Statement of Financial Performance -- The Statement of Changes in Net Assets/Equity -- Notes to the Financial Statements -- Estimation of Uncertainty - Key Sources -- Cash Flow Statement -- Disclosures -- Segment Reporting -- Identifying Segments -- Discontinued Operations16 -- Disclosure -- Accounting Policies, Changes in Accounting Estimates, and Errors -- Changes in Accounting Policy -- Events After the Reporting Date -- Authorizing Financial Statements for Issue -- Adjusting versus Non-adjusting Events -- Dividends -- Going Concern -- Disclosure -- 6 Disclosure Standards -- Related Party Disclosures -- Definition of a Related Party -- Identifying Related Parties -- Disclosures -- Disclosure about the General Government Sector -- Objective -- The Link to Government Statistical Reporting -- The Nature of the General Government Sector (GGS) -- Accounting Policies -- Investments in Other Sectors -- Disclosure Requirements -- 7 Long-Term (Non-Current) Assets -- Property, Plant and Equipment (PP&amp -- E) (IPSAS 17) -- Objectives and Scope -- Use and Control of PP&amp -- E -- Initial Recognition and Elements of Cost -- Recognition of an Asset Acquired through Non-Exchange Transaction -- Capitalization Threshold -- Costing of a Self-Constructed Asset -- Heritage Assets -- Infrastructure Assets -- Subsequent Expenditure -- The Cost Model and Depreciation -- The Revaluation Model -- De-recognition -- Professional Judgment.

Transitional Provisions -- Disclosures -- Borrowing Costs (IPSAS 5) -- Capitalization of Borrowing Costs -- Disclosures -- Intangibles (IPSAS 31) -- Objectives and Scope -- Initial Recognition and Measurement -- Separately Purchased Intangible Assets -- Exchanges of Assets -- Intangible Assets Acquired through a Non-Exchange Transaction -- Intangible Heritage Assets -- Internally Generated Intangible Assets -- Measurement after Initial Recognition -- Disposal of Intangible Assets -- Disclosures -- Transitional Provisions -- Investment Property (IPSAS 16) -- Recognition and Measurement -- Changes in Use -- Disposal of Investment Properties -- Disclosure -- Impairment (IPSAS 21 and IPSAS 26) -- Stages in the Impairment Process -- Recognizing an Impairment Loss -- Reversing an Impairment Loss -- Disclosures -- 8 Current Assets -- Inventories versus Property, Plant, and Equipment -- Inventory (IPSAS 12) -- Initial Recognition -- Measurement -- Expensing Inventory -- Disclosure -- 9 Service Concession Arrangements: Grantor -- Service Concession Arrangements: Grantor -- Grantor Accounting: Treatment of the Asset -- Grantor Accounting: Treatment of the Liability -- Disclosures -- 10 Leases and Leasing Arrangements -- Does an Arrangement Contain a Lease? -- Re-assessment of Whether Arrangements Contain a Lease -- Classification of Leases -- Substance Over Form -- Accounting Treatment by Lessees -- Accounting for Finance Leases -- Accounting Treatment by Lessors -- Sale and Leaseback Transactions -- Disclosures -- Disclosures for Finance Leases -- Disclosures for Operating Leases -- 11 Revenues and Expenses -- Non-Exchange Revenue (IPSAS 23) -- Recognizing Non-Exchange Revenue -- Measurement -- Tax Revenue -- Application to Other Types of Non-Exchange Revenue -- Other Types of Non-Exchange Revenue -- Non-Exchange Revenue: Principal-Agent.

Transitional Provisions -- Disclosure Requirements for Non-Exchange Revenue -- Revenue from Exchange Transactions (IPSAS 9) -- Measurement -- The Sale of Goods -- The Rendering of Services -- Interest, Royalties, and Dividends -- Exchanges of Assets -- Disclosure Requirements -- Transactions that Include Both an Exchange and Non-Exchange Component -- Principal-Agent Accounting -- Identification of Principals and Agents -- Principal-Agent Identification Impact on Accounting Requirements -- Construction Contracts (IPSAS 11) -- Determination of Contract Revenue and Contract Costs -- Disclosures -- Expense Recognition -- Non-Exchange Expenditure -- 12 Employee Benefits, Social Benefits, and Other Liabilities -- Contributions Received in Advance, Accounts Payable, and Accrued Liabilities -- Employee Benefits (IPSAS 25) -- Short-term Employee Benefits -- Compensated Absences -- Profit Sharing and Bonus Payments -- Post-Employment Benefits: An Overview -- Multi-Employer Plans -- Disclosures -- Social Benefits -- IPSAS 19 and Social Benefits -- 13 Provisions and Contingencies -- How to Distinguish between Provisions, Accruals, and Payables -- Provisions -- Past Event -- More about Onerous Contracts -- More about Restructuring -- Contingencies -- Difference between Provisions and Contingent Liabilities -- Measurement -- Restructuring -- Disclosures -- 14 Budget Reporting -- Excessive Deficit Procedure -- Stability and Growth Pact -- The Role of IPSAS 24 on Presentation of Budget Information in Financial Statements -- Applying IPSAS 24 on the Presentation of Budget Information in Financial Statements -- The Nature of Budgets -- Financial Statement Presentation -- Disclosure Requirements -- 15 Financial Instruments -- What is a Financial Instrument? -- Financial Instruments: Presentation -- Compound Financial Instrument -- Interest, Dividends, Losses, and Gains.

Offsetting -- Financial Instruments: Recognition and Measurement -- Financial Assets and Liabilities -- Financial Liabilities -- Amortized Cost -- Fair Value -- Impairment -- Financial Instruments: Disclosure -- 16 Consolidations and Strategic Investments -- Consolidated and Separate Financial Statements (IPSAS 6) -- Establishing Control -- Preparing Consolidated Financial Statements -- Consolidation Procedures -- Loss of Control -- Impairment Losses -- Transitional Provisions -- Disclosure -- Investments in Associates (IPSAS7) -- Identifying an Associate and Establishing Significant Influence -- Disclosure -- Joint Ventures (IPSAS 8) -- Establishing Joint Control -- The Three Types of Joint Venture -- Jointly Controlled Operations -- Jointly Controlled Assets -- Jointly Controlled Entities -- Proportionate Consolidation -- Transitional Provisions -- Disclosures -- Separate Financial Statements (IPSAS 34) -- Disclosure of Interests in Other Entities (IPSAS 38) -- 17 Specific Standards: Accounting for Agriculture and Accounting in Hyperinflation Economies -- Agriculture (IPSAS 27) -- Recognition -- Measurement -- Gains and Losses -- Disclosure -- Financial Reporting in Hyperinflationary Economies (IPSAS 10) -- Restatement of Financial Statements in Hyperinflationary Economies -- Gain or Loss on the Net Monetary Position -- Consolidation -- Economies Ceasing to be Hyperinflationary -- Disclosure -- Conclusion -- 18 Recommended Practice Guidelines (RPGs) -- Reporting on the Long-Term Sustainability of an Entitys Finances (RPG 1) -- Objective of RPG 1 -- RPG 1: Disclosures -- Reporting Long-term Fiscal Sustainability Information -- The Dimensions of Long-term Fiscal Sustainability -- Financial Statement Discussion and Analysis (RPG 2) -- Reporting Service Performance Information (RPG 3) -- RPG 3 Disclosures -- Conclusion -- Part 3 Cash-Based IPSAS.

19 Cash Basis IPSAS.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.